Ingram Micro (NYSE:INGM) Price Target Lowered to $26.00 at Evercore ISI

Ingram Micro (NYSE:INGM) had its target price dropped by investment analysts at Evercore ISI from $27.00 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 36.02% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ingram Micro in a research note on Monday, November 18th. They issued a “buy” rating and a $26.00 price target for the company. William Blair assumed coverage on Ingram Micro in a research report on Monday, November 18th. They set an “outperform” rating on the stock. BNP Paribas initiated coverage on Ingram Micro in a research note on Monday, November 18th. They issued a “neutral” rating and a $25.00 price target on the stock. Morgan Stanley lowered their price objective on Ingram Micro from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Northcoast Research assumed coverage on shares of Ingram Micro in a research report on Friday, November 8th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.86.

Ingram Micro Trading Down 8.9 %

INGM traded down $1.87 during midday trading on Wednesday, reaching $19.12. 123,985 shares of the company’s stock traded hands, compared to its average volume of 408,357. Ingram Micro has a 52 week low of $18.90 and a 52 week high of $25.69. The firm has a fifty day moving average price of $21.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.40 and a quick ratio of 0.96.

Ingram Micro (NYSE:INGM) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $13.21 billion. Analysts predict that Ingram Micro will post 2.71 EPS for the current year.

Ingram Micro declared that its board has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Ingram Micro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Ingram Micro during the fourth quarter valued at $17,432,000. New York State Common Retirement Fund bought a new stake in shares of Ingram Micro in the fourth quarter worth approximately $304,000. CenterBook Partners LP purchased a new position in shares of Ingram Micro during the fourth quarter valued at approximately $1,224,000. Wellington Management Group LLP bought a new position in Ingram Micro during the fourth quarter valued at approximately $26,969,000. Finally, JPMorgan Chase & Co. purchased a new stake in Ingram Micro in the fourth quarter worth approximately $37,793,000.

About Ingram Micro

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world’s leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.